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Our First Half-Century: A Review of Queensland Progress Based Upon Official Information — John Shaqi

Our First Half-Century: A Review of Queensland Progress Based Upon Official InformationQueensland

History

Our First Half-Century: A Review of Queensland Progress Based Upon Official Information

Name: Our First Half-Century: A Review of Queensland Progress Based Upon Official Information
Author: Queensland

Queensland

Queensland -- History

Importance of Sound Finance.--A Great Colony Starts upon
    a Bank Overdraft.--First Year's Revenue.--Land Sales as
    Revenue.--Deficits in First Decade.--Transfer of Loan
    Moneys to Revenue to Balance Accounts.--Heavy Public
    Works Expenditure.--Crisis of 1866.--Inconvertible Paper
    Currency Proposals.--Flotation of Treasury Bills.
    --Higher Customs Duties.--Wiping Out a Deficit by Issue
    of Debentures.--Transfer of Surplus to Surplus Revenue
    Account to Recoup Loan Fund.--Incidental Protection.
    --Railway Land Reserves.--Proceeds Used as Ordinary
    Revenue.--Three-million Loan.--Condition of Affairs at
    Close of First Quarter-Century.--Phenomenal Progress;
    Prospects Bright                                               33-38

CHAPTER III.

PUBLIC FINANCE (1884-1893).

    The Ten-million Loan.--Ministers Practically Granted
    Control of Five Years' Loan Money.--Vigorous Railway
    Policy.--Effect of Over-spending.--Inflation of
    Values.--Increased Taxation.--Succession of Deficits.
    --Second McIlwraith Ministry.--A Protectionist Tariff.
    --Temporary Increase of Revenue.--Heavy Contraction
    in 1890.--Another Big Loan; Failure of Flotation.
    --The First Underwritten Australian Loan.--Amended
    Audit Act Limiting Spending Power of Government                39-42


CHAPTER IV.

PUBLIC FINANCE (1893-1898).

    Sir Hugh Nelson at the Treasury.--Credit of Colony
    Restored.--Assistance to Financial Institutions and
    Primary Industries.--Savings Bank Stock Act.--Public
    Debt Reduction Fund.--Treasurer's Cautious and Prudent
    Administration.--Money Obtained in London at a Record
    Price                                                          43-45


CHAPTER V.

PUBLIC FINANCE (1898-1903).

    The Philp Ministry.--Large Surplus.--Loan Acts for Seven
    and a-half Millions Sterling.--Drought Disasters and
    Sacrifices for Federation.--Accumulated Revenue Deficits
    of over L1,000,000.--Rebuff on London Stock Exchange.
    --Resignation of Philp Ministry                                46-48


CHAPTER VI.

PUBLIC FINANCE (1903-1909).

    The Morgan-Kidston Ministry.--Economy in Revenue
    Expenditure.--Great Reduction in Loan Outlay.
    --Equilibrium Established at the Treasury.
    --Retrenchment and Taxation.--Improvement of
    Finances.--A Record Surplus for Queensland.--Land
    Sales Proceeds Act.--Abstention from Borrowing.
    --First Loan Floated since 1903.--Sound Position
    of Queensland.--Value of State Securities.
    --Reproductiveness of Railways Built out of Loan
    Money.--Public Estate Improvement Fund.--How
    Recourse to Money Market has been Avoided                      49-53


CHAPTER VII.

THE BOOM DECADE (1880-1890).

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Our First Half-Century: A Review of Queensland Progress Based Upon Official Information

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